Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-194.77 Statements to be furnished by Commission to directors of savings institutions

§ 6.1-194.77. Statements to be furnished by Commission to directors of savings institutions

The Commission shall prepare and make available to each member of the board of directors of every state association a statement describing generally their duties and responsibilities. The statement shall include a brief outline of the examining procedure employed by the Commission, an explanation of the distinction between an examination and an audit, and any information which the Commission deems necessary to apprise the directors of the necessity for an adequate system of internal controls.

(Code 1950, §§ 6-201.59, 6.1-189, 6.1-195.69; 1960, c. 402; 1966, c. 584; 1972, c. 796; 1985, c. 425.)

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Last modified: April 2, 2009